While we are constantly bombarded with commercials for car insurance, homeowner’s insurance, and life insurance, you don’t often see advertisements for equine or livestock insurance. This lack of promotion can make it difficult to know where to begin in your search for coverage. However, there are certain things to be on the lookout for during your hunt that will let you know you’re on the right path to finding a good insurance company.
1. Financial Stability
The first thing you’ll want to concern yourself with is assessing a potential insurers financial stability. As they’ll be paying out to you post-visit, you’ll want to be certain you will get the money in a timely fashion. There are sites online that help you by reviewing the financial strength and other basic information of a variety of equine and livestock insurance companies. Most of these sites use a rating system and you’ll want to keep your eyes peeled for an A-rated company. Similarly, you may want to use a company that is admitted in the state in which you live, meaning that you’ll have some protection should the company unexpectedly fold. While not all companies need to be admitted in order to be reliable, it can be a positive indicator.
2. Accessibility And Responsiveness
You will certainly want to be able to reach out easily to the company with which you want to work. When your animal has an issue that could well be life-threatening, the last thing you want to be worrying about is an inability to reach a claims agent. Check with friends, on message boards, and in online reviews to see other people’s experience with each company you are considering. Not only do you want a company with a user-friendly website that provides the information you need succinctly and clearly, but you want to be able to speak with a real representative who can answer any questions you might have.
In addition to having an easily accessed insurance company, you also want an agency that is transparent and up-front about their policies. When you speak with an agent, you want to be sure they are knowledgable and explain all their criteria for coverage, which can have limitations related to age and pre-existing conditions. Furthermore, you will want to talk to an agent about annual limits, co-pays and deductibles, and make sure that you’re not sacrificing coverage for cost.
Good equine and livestock insurance plans are not hard to find, once you know what you’re looking for. Take these tips and you and your animals will be carefully covered in no time.